CNOOC, partner plan Hainan LNG facility

Eric Watkins
Senior Correspondent

LOS ANGELES, Nov 22 -- China National Offshore Oil Corp. (CNOOC) and Hainan Development Holding Co. (HDHC) reported plans to invest $691 million to build an LNG import facility at Hainan.

Phase 1 of the project, due for completion by 2009, will have capacity of 2 million tonnes/year by 2012, rising to 3 million tonnes/year by 2015.

The project is designed to meet Hainan's gas needs for 25 years. Hainan's demand for gas stands at 7.3 billion cu m/year, leaving an annual gas shortage of 2.3 bcm.

CNOOC will hold 65% of the facility and HDHC, 35%.

Contact Eric Watkins at hippalus@yahoo.com.

Related Articles

BG Group: Mzia DST supports potential hub development offshore Tanzania

08/27/2014 Results from the second drillstem test (DST) on the Mzia discovery on Block 1 offshore southern Tanzania indicated further support for a hub develo...

Canadian firms plan BC gas plant, target LNG export

08/19/2014 AltaGas Ltd. and Painted Pony Petroleum Ltd., both of Calgary, have agreed to develop processing and marketing of natural gas and NGLs for Painted ...

EIA: China to increase natural gas consumption, investment

08/18/2014 China more than tripled natural gas production since 2003, producing 3.8 tcf in 2012, and the government is targeting production to reach about 5.5...

DOE finalizes LNG export national interest review reforms

08/15/2014 The US Department of Energy finalized reforms it proposed on May 29 to its process for determining whether planned LNG export projects are in the n...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected